Cancel car finance help

Herzlos

Cornucopia wrote: »

In which case, talk to your MP and people in the industry and try to persuade them that a cooling-off period would be great for the country and their businesses, and see where you get with it.

The last thing we want is reform here - can you imagine what a car purchase would be like if they had to have a no-quibbles return policy?

For one, they wouldn't register the car to you until after the return period ran out.

neilmcl

scott1102 wrote: »

I just find it extremely wrong and it doesn't sit right with me. That something as expensive as a car, to coin an old phrase "buying a car is the second most expensive purchase of a persons life after a house" that you don't get a cooling off period from the dealership?! Such an expensive and luxurious item and your only chance to see if it's right for you is the test drive one day and a look at all the shiny buttons and gadgets. End of job done you've now drove it for 20minutes and as your a normal person not a Motorhead you've played with the CD player and aircon. It's now yours for the next 5 years and no comebacks. Enjoy!

The thing to understand is the contract to buy the car and the finance agreement are 2 separate things. Yes, you can cancel the finance within 14 days but that has nothing to do with the contract you had with the dealership to buy the car. With that you have no rights whatsoever to return it just because you've had a change of heart. No different to any other item you buy that isn't faulty.

If you wanted the ability to try the car out then maybe you should've hired that model for a week or two beforehand.

Cornucopia

Herzlos wrote: »

The last thing we want is reform here - can you imagine what a car purchase would be like if they had to have a no-quibbles return policy?

For one, they wouldn't register the car to you until after the return period ran out.

It depends on how it was organised. You could "fix" the law around registration - maybe the Dealer could warrant a returned car as "as new" and then be allowed to re-register it in the Dealership's name and sell it as a new, pre-registered vehicle.

I'm sure it's that practical, and I doubt that the industry would do it without a fight. In fact, I'm not even sure that there is a problem there at all. What I am sure of is that this isn't the place for the OP to resolve such a thing, and that legal change is what he/she requires if they are to get what they seem to want.

Mercdriver

Cornucopia wrote: »

It depends on how it was organised. You could "fix" the law around registration - maybe the Dealer could warrant a returned car as "as new" and then be allowed to re-register it in the Dealership's name and sell it as a new, pre-registered vehicle.

I'm sure it's that practical, and I doubt that the industry would do it without a fight. In fact, I'm not even sure that there is a problem there at all. What I am sure of is that this isn't the place for the OP to resolve such a thing, and that legal change is what he/she requires if they are to get what they seem to want.

But this still leaves the dealer out of pocket for thousands. pre reg deals are generally reasonable value, especially at reg change times.

arcon5

Ye that's great, new pre-registered car. Just 50 miles on clock. New = new plus delivery and test drive mileage. New doesn't = only one person previously had it for a few weeks

facade

scott1102 wrote: »

I just find it extremely wrong and it doesn't sit right with me. That something as expensive as a car, to coin an old phrase "buying a car is the second most expensive purchase of a persons life after a house" that you don't get a cooling off period from the dealership?! Such an expensive and luxurious item and your only chance to see if it's right for you is the test drive one day and a look at all the shiny buttons and gadgets.

So if you buy a house and live in it for a week, you can return it and get all your money back?
Or do people let you test drive the house for a week now?
(What a good idea, if you fancy a free holiday at the coast you simply show interest in a house for sale there and you can live in it for a week or so F.O.C. )

Reminds me somewhat of The Olden Days when people bought a party frock from "The Catalogue" wore it to the party, then sent it back for a refund. (And the worn once frock went to the Ex-Catalogue shop )

Herzlos

Yeah it might be a reasonable cost of business to put returned goods into a clearance shop, if you're knocking £100 off the cost of a TV, but it wouldn't scale up to cars.

That's before getting into issues of verifying that all the original parts are coming back. Your DPF clogged? Buy a new car, swap them and return it. Need a new clutch?

iolanthe07

I can't believe the naivete of the OP. Does s/he really expect the dealer to take a huge hit on the difference between the price of a brand new car and one which already has a registered keeper? Perhaps we've all misunderstood the original post.

Only had the car 6 days and only added around 40-50 miles to it. It's still exactly the same car in same condition.

No, it isn't. It is now secondhand.

HiToAll

I would imagine your only option is to sell the car and pay off the finance and take the hit on the difference between your sale price and the finance outstanding.
and use this as an expensive lesson in buying expensive things.

Cornucopia

iolanthe07 wrote: »

I can't believe the naivete of the OP. Does s/he really expect the dealer to take a huge hit on the difference between the price of a brand new car and one which already has a registered keeper? Perhaps we've all misunderstood the original post.

Only had the car 6 days and only added around 40-50 miles to it. It's still exactly the same car in same condition.

No, it isn't. It is now secondhand.

It's slightly ambiguous as to whether it was brand new or not.